Cellulose Acetate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Cellulose Acetate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global cellulose acetate market size reached 2.0 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 2.4 Million Tons by 2028, exhibiting a growth rate (CAGR) of 3.6% during 2023-2028.

Cellulose acetate is a chemical product produced by the reaction of cellulose with acetic acid and acetic anhydride in the presence of a catalyst (sulphuric acid). Cellulose acetate is biodegradable and is used as a replacement of plastics in various industries. The product is primarily used in the production of cigarette filter tow, as it helps in removing tar and nicotine while maintaining favorable taste to the smoker.

Rising number of smokers, particularly in emerging markets such as China and India represents a key factor driving the market. Some of the other major drivers include its rising demand in textiles and apparels, growing usage of cellulose acetate in home furnishing products and its rising application as a biodegradable plastic in various other industries. The industry, however, faces some challenges as well. This includes its declining demand in photographic films and in its major end-application i.e. cigarette filters as a result of the rising awareness on the negative health impacts of smoking.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global cellulose acetate market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on application.

Breakup by Application:

Cigarette Filters
LCD
Yarn
Coating, Plastics and Films

Cigarette filters currently represent the largest application segment.

Breakup by Region:

Asia Pacific
North America
Europe
Middle East and Africa
Latin America

Region-wise, Asia Pacific currently represents the biggest market.

Competitive Landscape:
The report has also examined the competitive landscape of the Global Cellulose Acetate market. Some of the major players include Eastman chemical Company, Solvay, Celanese Corporation, Daicel Corporation, China National Tobacco Corporation, Mitsubishi Chemical Holdings, Sichuan Push Acetati Co. Ltd., Rayonier Advanced Materials Inc., Sappi Limited, etc.

Key Questions Answered in This Report

1. What is the size of the global cellulose acetate market 2022?
2. What are the key factors driving the global cellulose acetate market?
3. What has been the impact of COVID-19 on the global cellulose acetate market?
4. What is the breakup of the global cellulose acetate market based on the application?
5. What are the key regions in the global cellulose acetate market?
6. Who are the key companies/players in the global cellulose acetate market?